NEW YORK, Nov. 22, 2022 (GLOBE NEWSWIRE) -- LifeMD, Inc. (NASDAQ: LFMD), a leading direct-to-patient telehealth company, today announced it ranked #140 on Deloitte's Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America.
LifeMD previously ranked #189 and #164 on Deloitte's Technology Fast 500™ in 2019 and 2018, respectively. 2022 Technology Fast 500 awardees were selected based on percentage fiscal year revenue growth from 2018 to 2021. Overall, the 2022 Technology Fast 500 companies achieved revenue growth ranging from 241% to 125,138% over the three-year time frame, with a median growth rate of 611%.
"As the past year has shown us, innovation in important areas such as life sciences is critical to addressing infectious disease and other global health issues," said Paul Silverglate, vice chair, Deloitte LLP and U.S. technology sector leader. "In addition, technology must keep pace with ever-changing consumer and corporate demands for faster, safer and more efficient solutions to new societal challenges. Each year I am in awe of the immense talent the Technology Fast 500 rankings reveal, confirming the winners' relentless pursuit of creativity and their ability to solve real-world problems that benefit us all."
"This year's Technology Fast 500 list is a true reflection of some of today's most determined and inspiring pioneers who have prospered by anticipating what's next, understanding what's needed to succeed and driving creativity forward," said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte's audit & assurance practice. "Representing all facets of technology, the winners have shown they not only have the vision but can also expertly manage their companies through rapid growth. We congratulate each winner on their and impressive achievements."
"It's great to see LifeMD in Deloitte's Technology Fast 500™ once again," stated Justin Schreiber, CEO and Chairman of LifeMD. "Our improved ranking validates the strategic and operational goals we've executed on since entering telehealth. What's even more exciting than the revenue growth published in this report is the growing number of people we help day in and day out access amazing virtual healthcare. Truly comprehensive virtual care offerings like LifeMD's will play a major role over the coming years in improving access to quality care and driving better outcomes for patients."
About Deloitte's 2022 Technology Fast 500™
Now in its 28th year, the Deloitte Technology Fast 500 is a leading technology innovation awards program in the United States and Canada, celebrating technological advancement, entrepreneurship, and resilience. Fast 500 companies—large and small, public and private—are leaders in hardware, software, telecom, semiconductors, and emerging areas such as energy technology.
Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies. Technology Fast 500 award winners for 2022 were selected based on percentage of fiscal year revenue growth during the period from 2018 to 2021.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or proprietary technology, which must be sold to customers in products or services that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least US$50,000 and current year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America. This ranking is compiled from applications submitted directly to the Technology Fast 500 website and public company database research conducted by Deloitte LLP.
About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world's most admired brands, including nearly 90% of the Fortune 500® and more than 7,000 private companies. Our people come together for the greater good and work across the industry sectors that drive and shape today's marketplace — delivering measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to see challenges as opportunities to transform and thrive, and help lead the way toward a stronger economy and a healthier society. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Building on more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte's approximately 415,000 people worldwide connect for impact at .
About LifeMD
LifeMD is a 50-state direct-to-patient telehealth company with a portfolio of brands that offer virtual primary care, diagnostics, and specialized treatment for men's and women's health, allergy & asthma, and dermatological conditions. By leveraging its proprietary technology platform, 50-state affiliated medical group, and nationwide mail-order pharmacy network, LifeMD is increasing access to top-notch healthcare that is affordable to anyone. To learn more, go to LifeMD.com.
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This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended; Section 21E of the Securities Exchange Act of 1934, as amended; and the safe harbor provision of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this news release may be identified by the use of words such as: "believe," "expect," "anticipate," "project," "should," "plan," "will," "may," "intend," "estimate," "predict," "continue," and "potential," or, in each case, their negative or other variations or comparable terminology referencing future periods. Examples of forward-looking statements include, but are not limited to, statements regarding our financial outlook and guidance, short and long-term business performance and operations, future revenues and earnings, regulatory developments, legal events or outcomes, ability to comply with complex and evolving regulations, market conditions and trends, new or expanded products and offerings, growth strategies, underlying assumptions, and the effects of any of the foregoing on our future results of operations or financial condition.
Forward-looking statements are not historical facts and are not assurances of future performance. Rather, these statements are based on our current expectations, beliefs, and assumptions regarding future plans and strategies, projections, anticipated and unanticipated events and trends, the economy, and other future conditions, including the impact of any of the aforementioned on our future business. As forward-looking statements relate to the future, they are subject to inherent risk, uncertainties, and changes in circumstances and assumptions that are difficult to predict, including some of which are out of our control. Consequently, our actual results, performance, and financial condition may differ materially from those indicated in the forward-looking statements. These risks and uncertainties include, but are not limited to, "Risk Factors" identified in our filings with the Securities and Exchange Commission, including, but not limited to, our most recently filed Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and any amendments thereto. Even if our actual results, performance, or financial condition are consistent with forward-looking statements contained in such filings, they may not be indicative of our actual results, performance, or financial condition in subsequent periods.
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Company Contact
LifeMD, Inc.
Marc Benathen, CFO
marc@lifemd.com